Do you have evidence to back this up? As I mentioned in my post, STEEM went up 46x compared to SBD only going up 7x.
Yep, Steem broke into never breached before price territories only after SBD exploded. The 46x vs 7x is correct only if you look at a time frame that doesn't make sense to look at in this context. Look at only the period for which SBD was pumping and see if that correlates to growth in Steem. You will not find Steem outgrowing SBD there by any means and there is nothing like a 46x growth for Steem there. To me this is either an irrelevant or a misleading figure to put into this discussion.
The value displayed on a post payout is what matters to most people psychologically. That number goes up (i.e. the rewards pool goes up) when the value of STEEM goes up. I'd argue most new users don't even understand what a SBD is or how it's valued on an external market.
It takes only 7 days to understand that you are currently making significantly more than what the post displays. That is the psychological effect that makes people tell their friends to join. We are seeing unprecedented growth in new signups and activity. Do you dispute that? Isn't the data clear on that? Do you think we'll retain that if we create huge changes that destroy a lot of that value people are seeing? What would the psychological effect of not getting what you used to get up until recently because "the government of the blockchain" decided you don't deserve it anymore? You can bet all your Steem on a lot of churn if that happens.
Seems to me, if people could make money converting STEEM to SBD, that would increase demand for STEEM and increase the market cap (STEEM) which actually impacts the rewards pool payout amounts according to how the blockchain functions.
That can be true only if they continue to trust the blockchain. I have no doubt that a portion of the investors will view the blockchain as untrustworthy after implementing such a huge change with the flip of a switch and would not care to get involved in neither Steem, nor SBD. And with money flowing out of the system because of that, would the conversions be enough to take care of the problem?
It's not about "the white paper" as much as it's about a broken functionality on the blockchain. Either it should be fixed or removed. If we remove it, then we lose a potentially huge opportunity in the pegged token market. I don't think ignoring that opportunity is good stewardship of this ecosystem.
Broken is correct only if you care first and foremost about the vision in the whitepaper. The current setup is working to our advantage as of now and swooping in to destroy that makes no sense. Even if we assume that there is something broken, one should select a time to fix it that would not create other problems or mistrust in the blockchain itself. Things should be fixed in a way that doesn't